f the wheel is $ 47. The firm operatyes 243 days per year. Determine each of the following: a-Optimal run size b-Use your final answer from part a- to determine minimum total annual cost for carrying and setup c-Cycle time for the optimal run size d-Run time
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A toy manufacturing uses 51030 rubber wheels per year for its popular dump truck series. The firm makes its own wheels, which it can can produce at a rate of 800 per day. The toy trucks are assembled uniformly ( at a constant rate ) over the entire year. Carrying cost is $ 1.50 per wheel per year. setup cost for the production run of the wheel is $ 47. The firm operatyes 243 days per year. Determine each of the following:
a-Optimal run size
b-Use your final answer from part a- to determine minimum total annual cost for carrying and setup
c-Cycle time for the optimal run size
d-Run time
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- A coffee shop uses approximately 250 pounds of a particular type of coffee every week. The shop is open 52 weeks a year. The annual carrying charge for the coffee is 20%. If 1 pound of coffee costs the shop $12.00 and the cost associated with each order is $39, how many pounds of this coffee should be ordered each time an order is placed in the shop wants to minimize its total annualized inventory-related costs?Mike’s Garage, a local automotive service and repair shop, uses oil filters at a fairly steady rate of 2,400 per year. Mike estimates that the cost of his time to make and process an order is about $50. It takes one month for the supplier to deliver the oil filters to the garage, and each one costs Mike $5. Mike uses an annual interest rate of 25 percent to compute his holding cost.a. Determine the optimal number of oil filters that Mike should purchase, and the optimal time between placement of orders.b. Determine the level of on-hand inventory at the time a reorder should be placed.c. Assuming that Mike uses an optimal inventory control policy for oil filters, what is the annual cost of holding and order setup for this item?HAL Ltd. produces a line of high-capacity disk drives for mainframe computers.The housings for the drives are produced in Hamilton, Ontario, and shipped tothe main plant in Toronto. HAL uses the drive housings at a fairly steady rate of 720per year. Suppose that the housings are shipped in trucks that can hold 40 housingsat one time. It is estimated that the fixed cost of loading the housings onto the truckand unloading them on the other end is $300 for shipments of 120 or fewer housings(i.e., three or fewer truckloads). Each trip made by a single truck costs the company$160 in driver time, gasoline, oil, insurance, and wear and tear on the truck.a. Compute the annual costs of transportation and loading and unloadingthe housings for the following policies: (1) shipping one truck per week,(2) shipping one full truckload as often as needed, and (3) shipping three fulltruckloads as often as needed.b. For what reasons might the policy in part (a) with the highest annual cost bemore…
- An online footwear firm Shoe-n-co has four regional warehouses. Demand at each warehouse is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Each order incurs an ordering cost of $1,000 (primarily from fixed transportation cost), and lead time is 1 week. The company wants the probability of stocking out to be no more than 5%. Assume 50 working weeks per year. What is the average inventory held at each warehouse? What is the annual inventory cost (holding + ordering) for Shoe-n-co? On average, how long does a unit of product spend in the warehouse before being sold? .. Little's law, maybe?An online footwear firm Shoe-n-co has four regional warehouses. Demand at each warehouse is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Each order incurs an ordering cost of $1,000 (primarily from fixed transportation cost), and lead time is 1 week. The company wants the probability of stocking out to be no more than 5%. Assume 50 working weeks per year. Suppose that Shoe-n-co follows a periodic review policy with a review period of 2 weeks. Recall that the firm has four regional warehouses with demand at each warehouse that is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Further, annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Replenishment lead time is 1 week. The company wants a service level of 95%. Assume 50 working weeks per year. What is the annual…An online footwear firm Shoe-n-co has four regional warehouses. Demand at each warehouse is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Each order incurs an ordering cost of $1,000 (primarily from fixed transportation cost), and lead time is 1 week. The company wants the probability of stocking out to be no more than 5%. Assume 50 working weeks per year. Suppose that Shoe-n-co follows a periodic review policy with a review period of 2 weeks. Recall that the firm has four regional warehouses with demand at each warehouse that is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Further, annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Replenishment lead time is 1 week. The company wants a service level of 95%. Assume 50 working weeks per year. Assuming that each…
- An online footwear firm Shoe-n-co has four regional warehouses. Demand at each warehouse is normally distributed with a mean of 10,000 per week and a standard deviation of 2,000. Annual holding cost is 25%, and each unit of Prancs rubber shoes costs the company $10. Each order incurs an ordering cost of $1,000 (primarily from fixed transportation cost), and lead time is 1 week. The company wants the probability of stocking out to be no more than 5%. Assume 50 working weeks per year. Assuming that each warehouse operates independently, calculate the ROP parameter of the optimal continuous review policy. Assuming that each warehouse operates independently, calculate the Q parameter of the optimal continuous review policy. How much safety stock does each warehouse have?Three years ago, Barbara Jones started a business that creates and delivers holiday and birthday gift baskets to students at the local university. Barbara sells the baskets for $ 29 each, and her variable costs are $ 19 per basket. She incurs $ 12,500 in fixed costs each year. Last year, Barbara sold 4,000 baskets, and she believes that demand this year will be stable at 4,000 baskets. The following are the actions Barbara could take if she wants to earn $ 30,900 in operating income by selling only 4,000 baskets. Consider each action independently. (Round per unit answers to 2 decimal places, e.g. 52.75 and fixed cost to 0 decimal places, e.g. 5,275.) Raise selling price per unit to? Reduce variable costs per unit to? Reduce fixed costs to?ABC firm uses roughly 3,400 pounds of chemical dye a year. Currently, the firm purchases 300 pounds per order and pays P120.00 per pound. The supplier has just announced that orders of 1,000 pounds or more will be filled at a price of P80.00 per pound. The manufacturing firm incurs a cost of P4,000.00 each time it submits an order and assigns an annual holding cost of 17% of the purchase price per pound. a. Determine the order size that will minimize the total cost.b. If the supplier offered the discount at 1,500 pounds instead of 1,000 pounds, what order size would minimize total cost?
- A car dealer must pay $20,000 for each car purchased. The annual holding cost is estimated to be 25% of the dollar value of inventory. The dealer sells an average of 500 cars per year. He is willing to backlog some demand but estimates that if he is short one car for one year, he will lose $20,000 worth of future profits. Each time the dealer places an order for cars, the ordering cost is $10,000. Determine the dealer’s optimal ordering policy. What is the maximum shortage that will occur? Assume it costs $5000 to store a car for a yearA Mercedes dealer must pay $20,000 for each carpurchased. The annual holding cost is estimated to be 25%of the dollar value of inventory. The dealer sells an averageof 500 cars per year. He believes that demand is backloggedbut estimates that if he is short one car for one year he willlose $20,000 worth of future profits. Each time the dealerplaces an order for cars, ordering cost amounts to $10,000.Determine the Mercedes dealer’s optimal ordering policy.What is the maximum shortage that will occur?Solve this please theoretically not on excel A detergent manufacturer manages a plant for a major retail. The average monthly demand is 12,000 jugs of detergent. Each jug costs $(1.3) and is sold to the retailer at a wholesale price of $8. The manufacturer and the retailer use an annual holding cost of (29)%. For each order placed, the retailer incurs an ordering cost of $80. Manufacturer incurs the cost of transportation and loading which totals $2,000 per order shipped. a. To minimize its inventory-related costs, what lot size will be the best for the retailer? What is the annual inventory-related cost of the manufacturer and the retailer as a result of this policy? b. What lot size minimizes the inventory-related costs across both the manufacturer and the retailer? How much reduction in cost relative to (a) results from this policy? c. Design an all-unit quantity discount that results in the retailer ordering the quantity in (b